Navent now owns three of the main real estate classifieds portals in Brazil: Imovelweb, a leading property portal in Sao Paulo, Rio, and Minas Gerais; ImoveisCuritiba, a leading portal in Curitiba; and WImoveis, the leading portal in Brasilia.
Navent recently raised US$20 million from Riverwood Capital, a global technology private equity firm. The funding is being used to continue Navent’s expansion plan and accelerate the growth of its properties, which include Imovelweb (Brazil).
“Brazil accounts roughly for half the E-commerce and Internet population in Latin America. Therefore if a company aims at building a regional latin american service, having a strong presence in this market is essential. Our M&A strategy is consistent with this vision, this is why Navent invested in three of the main real estate portals in Brazil” said Nicolás Tejerina, Navent Chief Executive Officer.
Navent’s leading real estate site, ImovelWeb, has established itself as a leading online real estate company in Brazil, with strong presence in Sao Paulo, Rio de Janeiro, Minas Gerais and Curitiba. While the online classifieds market in Brazil for real estate is still very much in its infancy, Imovelweb has also seen substantial growth in its user base and engagement with the platform: Approximately 2.5 million unique users visit Imovelweb monthly, which has more than 700.000 listings and more than 5.000 real estate professionals registered as active users.
Since 1998, the WImoveis portal was established in the real estate market by offering the best service for brokers, real estate agents and builders. Currently, WImoveis is the top ranked Real Estate portal in Brasilia.